Carvana (NYSE:CVNA) CEO Ernest Garcia III Sells 4,800 Shares

Carvana Co. (NYSE:CVNA) CEO Ernest Garcia III sold 4,800 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $390.75, for a total transaction of $1,875,600.00. Following the sale, the chief executive officer directly owned 386,440 shares in the company, valued at $151,001,430. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Carvana Stock Down 4.6%

CVNA opened at $376.56 on Friday. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The company has a fifty day moving average of $364.64 and a two-hundred day moving average of $309.02. The stock has a market capitalization of $81.04 billion, a price-to-earnings ratio of 94.38, a PEG ratio of 1.29 and a beta of 3.55.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the company posted ($0.05) EPS. The company’s revenue for the quarter was up 41.9% on a year-over-year basis. On average, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Hedge Funds Weigh In On Carvana

Several hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its stake in Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after acquiring an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Carvana by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 12,764,230 shares of the company’s stock worth $4,301,035,000 after purchasing an additional 229,387 shares during the last quarter. State Street Corp grew its position in shares of Carvana by 15.0% in the second quarter. State Street Corp now owns 2,765,046 shares of the company’s stock valued at $931,710,000 after purchasing an additional 361,624 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Carvana by 11.0% in the second quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock valued at $750,301,000 after purchasing an additional 221,161 shares in the last quarter. Finally, Sands Capital Management LLC increased its holdings in shares of Carvana by 1,374.3% in the second quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock valued at $303,677,000 after purchasing an additional 840,096 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVNA has been the subject of a number of recent analyst reports. William Blair restated an “outperform” rating on shares of Carvana in a research report on Wednesday, July 23rd. Evercore ISI boosted their price target on shares of Carvana from $365.00 to $370.00 and gave the stock an “in-line” rating in a report on Tuesday, August 12th. Royal Bank Of Canada upped their price objective on shares of Carvana from $400.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Carvana in a research note on Saturday, September 27th. Finally, Gordon Haskett assumed coverage on shares of Carvana in a research report on Monday, July 14th. They set a “hold” rating and a $329.00 price target for the company. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $404.94.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.